Citi Overlooked a Few Thousand Illegal Trades
A major job of banking compliance is to keep separate a bank's trading and relationship functions. Citigroup Global Markets sometimes messed up that separation.
Guggenheim, the SEC and Milken's Shadow
Did the former junk-bond king act as an investment advisor? Regulators seem to have spent two years investigating just that.
Senators Think Stock Buybacks Might Be Manipulative
Some politicians, like Sens. Elizabeth Warren and Tammy Baldwin, think that stock buybacks are bad and that the SEC should forbid them as market manipulation.
PIMCO Sold Itself Some Bonds
It's a fascinating little study in bond market liquidity. One is a story of costs, the other is a story of risks.
Banks Will Keep Doing FX Stuff That Got Them in Trouble
Every banking scandal brings tension between up-in-arms regulators and banks, who are like, "What? This? We've done this forever. We thought it was fine."
Perfect Insider Traders Got Caught
If there's one thing that insider traders like almost as much as playing golf, it's failing to recognize their own fathers' names in FINRA inquiries.
Nobody’s Worried About ‘Too Big to Jail’ Anymore
A criminal guilty plea no longer comes with the expectation that it will destroy a bank.
SEC Investigates Bank of America for Doing Nothing
If you make it too obvious that your transaction is about getting around rules, that's the sort of thing that the SEC doesn't like.
Should Mutual Funds Be Illegal?
There's a congealing regulatory view that index funds are Good and active management is Bad, Matt Levine writes.
Algorithms Will Make JPMorgan Less Bad
JPMorgan is using algorithms "to identify rogue employees" to minimize costs and maximize ROE (and bonuses). That happens to coincide with regulatory goals.